Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The following tables present financial information by segment for the three and nine months ended September 30, 2025 and 2024:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Revenues:
Fuel Distribution
Revenues from external customers	$	5,742	$	5,473	$	15,741	$	16,838
Intersegment revenues	8		10		30		30
	5,750		5,483		15,771		16,868
Pipeline Systems
Revenues from external customers	185		164		539		341
Intersegment revenues	14		—		16		—
	199		164		555		341
Terminals
Revenues from external customers	105		114		321		245
Intersegment revenues	250		248		716		758
	355		362		1,037		1,003
Eliminations	(272)		(258)		(762)		(788)
Total	$	6,032	$	5,751	$	16,601	$	17,424


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Cost of sales:
Fuel Distribution	$	5,421	$	5,319	$	14,819	$	15,983
Pipeline Systems	10		5		9		9
Terminals	227		261		667		747
Eliminations	(272)		(258)		(762)		(788)
Total	$	5,386	$	5,327	$	14,733	$	15,951


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Operating and lease expenses, excluding non-cash unit-based compensation:
Fuel Distribution	$	83	$	83	$	229	$	239
Pipeline Systems	52		45		141		84
Terminals	45		41		130		100
Total	$	180	$	169	$	500	$	423


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
General and administrative expenses, excluding non-cash unit-based compensation:
Fuel Distribution	$	27	$	15	$	73	$	58
Pipeline Systems	13		26		33		112
Terminals	7		10		24		46
Total	$	47	$	51	$	130	$	216


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Other(1):
Fuel Distribution	$	(13)	$	(187)	$	(8)	$	(128)
Pipeline Systems	(58)		(48)		(159)		(53)
Terminals	1		(17)		4		(3)
Total	$	(70)	$	(252)	$	(163)	$	(184)

(1) Other includes Adjusted EBITDA from unconsolidated affiliates, unrealized gains and losses on commodity derivatives, inventory valuation adjustments and other less significant items, as applicable.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Segment Adjusted EBITDA:
Fuel Distribution	$	232	$	253	$	658	$	716
Pipeline Systems	182		136		531		189
Terminals	75		67		212		113
Total	$	489	$	456	$	1,401	$	1,018


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Reconciliation of net income to Adjusted EBITDA:
Net income	$	137	$	2	$	430	$	733
Depreciation, amortization and accretion	159		95		469		216
Interest expense, net	131		116		375		274
Non-cash unit-based compensation expense	5		4		14		12
(Gain) loss on disposal of assets and impairment charges	3		(2)		4		52
Loss on extinguishment of debt	12		—		31		2
Unrealized losses on commodity derivatives	15		1		7		8
Inventory valuation adjustments	(10)		197		(31)		99
Equity in earnings of unconsolidated affiliates	(40)		(31)		(103)		(35)
Adjusted EBITDA related to unconsolidated affiliates	58		47		159		53
Gain on West Texas Sale	—		—		—		(598)
Other non-cash adjustments	8		12		30		31
Income tax expense	11		15		16		171
Adjusted EBITDA (consolidated)	$	489	$	456	$	1,401	$	1,018


	September 30, 2025		December 31, 2024
Assets:
Fuel Distribution	$	6,273	$	6,047
Pipeline Systems	5,990		6,213
Terminals	2,267		1,944
Total segment assets	14,530		14,204
Other partnership assets	3,315		171
Total assets	$	17,845	$	14,375

Sunoco LP 10-Q